Bonanza Creek Energy (NYSE:BCEI) Cut to “Strong Sell” at Zacks Investment Research

Bonanza Creek Energy (NYSE:BCEI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Bonanza Creek Energy, Inc. is engaged in the acquisition, exploration and development of onshore oil and natural gas properties in the United States. The Company’s core operating areas are the DJ Basin in Colorado and the Cotton Valley formation in southern Arkansas. Bonanza Creek Energy, Inc. is based in Denver, Colorado. “

Separately, Capital One Financial raised shares of Cimarex Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $34.25.

BCEI traded up $0.32 during mid-day trading on Tuesday, reaching $21.69. 152,331 shares of the company traded hands, compared to its average volume of 203,262. Bonanza Creek Energy has a 52-week low of $17.64 and a 52-week high of $40.38. The stock’s fifty day moving average is $19.89. The company has a current ratio of 1.19, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10.

Bonanza Creek Energy (NYSE:BCEI) last issued its quarterly earnings data on Wednesday, May 8th. The oil and gas producer reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($1.79). Bonanza Creek Energy had a net margin of 51.69% and a return on equity of 20.92%. The business had revenue of $72.59 million for the quarter, compared to the consensus estimate of $71.19 million. As a group, research analysts forecast that Bonanza Creek Energy will post 4.96 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. WINTON GROUP Ltd acquired a new position in Bonanza Creek Energy during the second quarter worth about $265,000. Denali Advisors LLC purchased a new position in Bonanza Creek Energy during the second quarter worth about $77,000. FMR LLC raised its stake in Bonanza Creek Energy by 18.0% during the first quarter. FMR LLC now owns 29,500 shares of the oil and gas producer’s stock worth $669,000 after purchasing an additional 4,500 shares during the period. Nordea Investment Management AB raised its stake in Bonanza Creek Energy by 3.7% during the first quarter. Nordea Investment Management AB now owns 44,400 shares of the oil and gas producer’s stock worth $1,008,000 after purchasing an additional 1,600 shares during the period. Finally, Cooper Creek Partners Management LLC purchased a new position in Bonanza Creek Energy during the first quarter worth about $6,721,000.

Bonanza Creek Energy Company Profile

Bonanza Creek Energy, Inc, an exploration and production company, focuses on the extraction of onshore oil and related liquids-rich natural gas in the United States. The company's primary oil and liquids-weighted assets are located in the Wattenberg Field in Colorado. As of December 31, 2018, it had proved reserves of 116.8 million barrel of oil equivalent.

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